As a multi-chain decentralized exchange aiming to lead the next DeFi revolution, FibSwap has focused on releasing critical features. One of these is staking — known throughout the DEX as FibSwap Staking — which was released in mid-November. Now, users can stake their $FIBO token to earn rewards/passive income on their funds by utilizing FibSwap’s in-house staking application.
This is a major feature for an exchange focusing on making cross-chain swaps seamless in a quickly expanding DeFi ecosystem. New networks hit the market frequently, and interactions between them can be fragmented if there isn’t an effective way to bridge them to work together. This is what FibSwap has been focusing on with its Interoperable Multi-chain Bridge System (IMBS), running on the FibSwap Smart Algorithm.
FibSwap Staking the Next Obvious Step
FibSwap Staking has been in the works for a long time, and it was an obvious next step for the project. Staking immediately provides several benefits to end users and project dev teams, which are now well-known to the market. It is the hope that users will take to it and see how much they can directly benefit from staking.
There are currently three rewards pools on the FibSwap Staking page, with annual percentage yields (APYs) going as high as 67%. As the icing on the cake, there are no transaction fees for these operations! If you stake $FIBO now, you can start earning the Boorio (ORIO) token. Over 829 billion tokens have already been staked, but we know there will be much more to come!
As FibSwap integrates with additional chains and partners with new projects, users can expect the number of pools on FibSwap staking to grow. It has only been a short time, but the response has been great so far, which only encourages us to grow and do more. You can look forward to more pools in the near future.
As the FIBO token finds more utility among users, we foresee a lot of good things for FibSwap Staking. The ability to make easier and faster token swaps between the growing list of DeFi networks is absolutely necessary, and that is one of the key applications of the $FIBO token.
With the introduction of better cross-chain swaps, users will find that staking their $FIBO could make their DeFi interactions a lot easier and potentially more lucrative. $FIBO powers the FibSwap DEX and is used for governance, fees, and facilitating swaps between chains.
Start Staking Today
A new era of DeFi is upon us, one where interacting between chains will be a breeze. FibSwap aims to lead this charge, focusing on making the DeFi experience as seamless and pain-free as possible for all users. The technology exists, as does the solution in the forms of the IMBS design and the FibSwap Smart Algorithm, so now, it is up to our community of users to help take the FibSwap platform to the next level.
By staking on FibSwap, you can prepare yourself for our more tightly integrated future. The $FIBO token will be at the center of all of the services on our platform, and staking will give users the extra edge they need to make the most out of FibSwap’s expanding ecosystem of DeFi services.
Head over to FibSwap Staking to begin your staking journey today!